Default by Aston Martin owner tests Islamic finance

From Telegraph.co.uk: Kuwait’s Investment Dar, the Islamic finance holding company which owns a majority stake in British luxury carmaker Aston Martin, has suspended payments on its KD1bn ($3.5bn) debt.

Its strategy of relying on short-term financing was crippled by the credit crunch. Sharia law provides no precedent for what happens next…….Full Article: Source